Possible reposession

lennie6660

My partner is being threatened with repossession. Can he put me on his mortgage? I already live with him and am working full time

McKneff

If he is under threat of repossession, presumably he isnt paying his mortgage.

Dont understand your question to be honest.

Why would you want to be part of a repossession which would kill your credit record.

You maybe need to be more specific.

lee111s

Are you both currently contributing towards the mortgage payments? If the payments aren't being made then that's why they're threatening reposession, not because he's the sole person on the mortgage.

The simplest thing to do would be to help him pay the mortgage, get it on an even keel with no arrears and then submit a joint application.

maninthestreet

Surely it's easier just to lend him some money to clear the mortgage arrears, and/or assist with the monthly mortgage payments??

lennie6660

He,s had his mortgage for 12 years, was working constantly ( self employed electrician) until building trade started to suffer, around 4-5 yrs ago. Since then he has worked when possible but also claimed benefits in between. He has now come to the end of his mortgage help period with DWP & is struggling to meet mortgage payments. I am already helping financially but we thought it would give me some security f I was on the mortgage. we want to keep the house as we know that if he loses it he will never get back on the property ladder. Sorry if my original post was vague. Never done this before!!

kingstreet

Hm. Little security in the face of repossession, plus a trashed credit history.

I'd stay off it if I were you. It will do you more harm than good.

What about arranging a mortgage of your own to buy the property off him and avoid the repossession?

You got a deposit and enough income?

lennie6660

I earn enough but no deposit PLUS I'm 54 yrs old... Getting a mortgage at my age wouldn't be easy?

mrsmchapman

I'm not sure how by you going onto the mortgage would help anything? I'm also not sure what security you feel there may be? It seems by your post that by you also helping financially the mortgage still isn't being paid. I would therefor not put my name into the mortgage.

kingstreet

How much equity is in the property?

Have you any real prospect of paying off the arrears while meeting the full payments?

Think carefully about letting the property go and renting instead, particularly if there's little equity and you'll struggle to pay the increased payments.